Finance Your Real Estate Investment with a WA Hard Money Loan
Real estate investors considering investment strategies take note. There is a renewed interest in townhouses among buyers and renters. Townhome construction is on the rise and demand is strong.
Why the interest?
Benefits of Townhouse Living
First, let’s define “townhome.”
Townhouses are multi-floor homes with their own entrances that share one to two walls with adjacent properties. They typically have multiple rooms on a smaller footprint than a conventional single-family detached home. The owner of the townhome owns the structure and the land beneath it. A homeowners association run by community tenants is responsible for maintaining the townhome’s exterior and common areas shared by all residents. Owners are all responsible for paying monthly HOA fees, which support the upkeep of the community and structures.
Single-family attached housing offers several benefits.
- Affordable: Townhouses are more affordable than detached homes and a great value. Property taxes are less than for a standalone, and HOA fees are typically lower compared to condos.
- Easy care: Exterior maintenance and landscaping of common areas are taken care of by the HOA, which means less work for residents and more time for other things.
- Secure: Townhome communities offer added security. Properties are well-lit, many are gated, and neighbors often look out for one another.
- Convenient: Townhomes are typically located in medium to high-density neighborhoods – making them convenient to shopping, dining, entertainment, and daily needs.
- Community: A sense of community and kinship comes with living in a townhome. Your space is your own but shared walls and common areas bring residents together.
- Amenities: A pool, community clubhouse and landscaped common areas are added bonuses of townhouse living (and when the value of HOA dues are most appreciated.) Many fees also cover common utilities such as water or trash.
- Suitable for all: Their affordability makes townhouses appealing to first-time buyers. Many townhome communities are located near schools and parks, making them great for families. And maintenance and access to amenities make them a favorite choice for seniors.
While adhering to homeowner association rules and guidelines and paying HOA dues may not be for everyone, townhouse living offers many advantages. In today’s high-priced and competitive housing market, there are many good reasons for townhomes to be seeing a resurgence in popularity among buyers and renters.
If you’re thinking of investing in property – or already live in a townhome and are strategizing next moves – consider real estate trends and the benefits of townhouses.
Get a Washington Hard Money Loan FAST
If you need upgrades to your townhome investment property or are ready to move on an investment property purchase and need financing, talk to our hard money loan team. Gregory M. Russell is a trusted Washington lender with the experience and understanding of the market to help you meet your goals. We may be a good fit if you have less-than-perfect credit or your employment history is an issue with other lenders. Our private loans are based on your available equity. And we move fast. Our application process is streamlined (check out our easy online loan request form here), and you can have money in hand in ten days. Call to learn more! 1-888-477-0444.